Musk attacks ‘corporate terrorists’ for voting against his $1tn pay deal

Core Points - Elon Musk has criticized shareholder proxy advisers Glass Lewis and ISS for opposing his proposed $1 trillion pay package, labeling them as "corporate terrorists" [1][4] - The proposed compensation plan would allow Musk to receive millions of shares if he successfully increases Tesla's valuation from $1 trillion to $8.5 trillion over the next decade, potentially making him the world's first trillionaire [2] - Glass Lewis and ISS have recommended that Tesla shareholders vote against Musk's pay package, citing concerns over shareholder dilution and the potential for excessive pay without exceptional performance [3][4] Company Strategy - Musk's pay package is designed not only as compensation but also to enhance his voting power within Tesla, as he expressed discomfort with the idea of being ousted due to proxy advisers' recommendations [4] - The Tesla board has indicated that retaining Musk is crucial for the company's future success and achieving its ambitious goals [5] Regulatory and Governance Issues - Musk has called for proxy advisory firms to register as investment advisers, arguing that they should face more regulatory scrutiny due to their significant influence on corporate governance [5][6] - He criticized the voting practices of Glass Lewis and ISS, suggesting they often act based on political motivations rather than shareholder interests [6]